Luxury Daily
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How Gucci and Chanel are going mobile to enhance customer experience
July 12, 2019 By

Gucci and Chanel are using the power of customers’ smartphones to deliver more personalized and human-enhanced service to their customers.

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How CMOs can boost customer retention
July 11, 2019 By

The length of the customer lifecycle is one of the reasons why marketers do not always have customer retention top of mind.

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How to fix the problem in department stores
July 9, 2019 By

Department store retailing is a people business. It is not a product business anymore. What department stores sell now is less important than how they sell it: the shopping experience.

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Tiffany’s 6-prong strategic plan for growth
July 8, 2019 By

Tiffany’s first-quarter 2019 results disappointed, with worldwide sales declining 3 percent to $1 billion and comparable sales off 5 percent. Net earnings disappointed too, down 12 percent from the previous year.

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Most powerful marketing words your brand should use
July 5, 2019 By

These marketing words can help you boost conversions and improve the bottom line for your business.

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Pre-owned luxury comes into its own as new retail channel
July 2, 2019 By

The resounding success of The RealReal’s NASDAQ IPO on June 28 gave new life to the authenticated pre-owned luxury market, marking another step toward eliminating the stigma associated with buying secondhand high-end goods.

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Why the 3-way match cannot prevent overpayment or fraud
June 27, 2019 By

The three-way match, which cross-references invoices, purchase orders and receiving documents before issuing payments, has been considered the industry-standard procedure in accounts payable departments for years – until now.

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Planning/budgeting cycles shrinking to 6-12 months from 3-5 years
June 26, 2019 By

NEW YORK – Given the digital speed of change, luxury marketers are seeing planning and budgeting cycles shrink as pressures to deliver and measure real-time ROI on marketing spend continue to grow. Interestingly, this does not preclude planning and budgeting for a few, select long-term “big ideas.”

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Group of wealthy Americans writes open letter for wealth tax on super-rich
June 25, 2019 By

A group of wealthy Americans called on all candidates for president, whether they are Republicans or Democrats, to support a moderate wealth tax on the fortunes of the richest 1/10 of the richest 1 percent of Americans. Here is the letter in its entirety.

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Stores should leverage the Instagrammable retail trend
June 24, 2019 By

Incorporating fun, selfie-friendly moments to attract customers and build brand awareness is not just a trend. It is quickly becoming a necessity.

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FTC enforcement highlights compliance with Consumer Review Fairness Act
June 21, 2019 By

The Federal Trade Commission last month brought three separate actions against companies using allegedly illegal clauses in violation of the Consumer Review Fairness Act.

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5 tips to help with your presentations
June 17, 2019 By

Most clients simply do not see your work from your perspective.

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3 questions about retail cash flow and inventory
June 13, 2019 By

The retail sector is undergoing tremendous change, with a growing volume of sales shifting to online stores. But for owners of all types of retail businesses, issues related to cash flow and inventory remain a primary concern.

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Single worst brand-building mistake a company can make?
June 10, 2019 By

Our brand is more than the marketing messages we send out—far more. It encompasses everything from our product to our pricing to our SEO tactics to our customer experience.

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Kawhi Leonard/Nike lawsuit: Key to know who owns IP rights upfront
June 6, 2019 By

More luxury brands are entering into arrangements with celebrities, athletes and influencers to help grow their brands and reach new customers, whether the deals are in the form of a collaboration, brand ambassador, influencer, or some other type of arrangement.

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Luxury brands’ delicate dance with Alibaba
June 5, 2019 By

Alibaba represents a dichotomy to luxury brands. The company has problems with counterfeit goods and is featured on the United States government’s list of notorious markets for piracy, while also being the single largest player for brands wanting to capitalize on Chinese consumers and their corresponding wealth. What is a brand to do?

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How to use travel data in luxury retail
June 4, 2019 By

Experiences have become the status symbols that goods used to be, and with the global luxury travel market expected to garner $1.15 trillion by 2022, it is imperative to recognize the business importance of using travel data to understand the modern spending habits of the elite travel luxury consumer.

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Must-know basics of copyright law for the luxury business
May 30, 2019 By

Copyrights arise immediately upon creation. They are relatively inexpensive to secure through registration, and they last a long time – sometimes more than 100 years.

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Year of GDPR: Looking back and to the future
May 29, 2019 By

GDPR has triggered change across all five foundational pillars – legal, economic, technology, social and political – of the world’s economies.

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From great to good: Luxury real estate adjusts to a more normal market
May 28, 2019 By

The luxury real estate market, especially in the United States, has had a breathless ascent in recent years. Prices have risen dramatically, fueled by a more global real estate market where money shifts from place to place with increased fluidity.

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Learning from the other side: Branding lessons from the top 5 retailers in the US
May 24, 2019 By

The top five retailers in the United States made $228.4 billion in earnings last year. They must be doing something right.

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